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Filing of forms by Insolvency Professional with the MCA

Filing of forms in the Registry (MCA-21) by the Insolvency Professional (Interim Resolution Professional (IRP) or Resolution Professional (RP) or Liquidator) appointed under Insolvency Bankruptcy Code, 2016 (IBC), 2016

MINISTRY OF CORPORATE AFFAIRS vide General Circular No. O8/2O2O dated 06.03.2020, has issued clarification for statutory compliances in respect of companies under Corporate Insolvency Resolution Process (CIRP).

This Circular is in supersession of earlier Circular No.O4 /2O2O dated, 17.02.2020 (http://www.mca.gov.in/Ministry/pdf/Circular_17022020.pdf)

Clarification regarding filing of forms in registry MCA-21 by IRP or RP or liquidator

Following clarification has been issued for statutory compliances in respect of companies under Corporate Insolvency Resolution Process (CIRP):

1. The IRP/ RP/ Liquidator would have to first file the NCLT order approving him as the IRP/ RP/ Liquidator in Form INC-28 by selecting the drop down box in field 5(a)(iii) by selecting the appropriate section of IBC 2O16

2. The IRP/ RP/Liquidator while affixing his DSC, shall choose his designation as "CEO' in the declaration box for the purpose of filing only and choose "Others" from the Drop down Menu.

3. The Master Data for change in the status of the company from "Active"/ "Inactive" to CIRP/ Liquidation or CIRP/Liquidation to "Active" shall be effected on the basis of Formal Change Request Form submitted by IBBI to e-governance Cell, MCA(HQ).

4. The IRP/ RP/ Liquidator shall be responsible for filing all the e-forms in the MCA portal and sign the form in the capacity of CEO in order to meet filing protocol in the existing forms architecture.

5. All filings of e-forms including AOC-4 and MGT-7 shall be filed through e-form GNL-2 by way of attachments till the company is under CIRP. In the existing field no.3 of form no.GNL-2, IRP/ RP/ Liquidator will choose radio button "Filings under IBC".

6. Against date of event and Board Resolution in INC-28 and GNL-2, date of order of NCLT/NCLAT/Court may be mentioned.

7. In respect of companies which are marked under CIRP in the Registry, Annual Return (e-form No.MGT-7) and Financial Statement (e-form AOC-4) and other documents under the provisions of the Companies Act, 2013, in accordance with directions issued by the NCLT/ NCLAT/Courts, shall be filed as attachments with e-form GNL-2 against the payment of one time normal fee only, till such time the company remains under CIRP. Separate GNL-2 forms shall be filed for each such document, by the IRP/RP.
8. Concerned IRP/RP of every company which was under CIRP prior to the issue of this circular, shall also file e-form INC-28 for such companies and thereafter proceed to file other documents/fact/ information as

required under the Act and Rules there under through e-form GNL-2.

Link: http://www.mca.gov.in/Ministry/pdf/Circular8_06032020.pdf

Disclaimer: IN NO EVENT THE AUTHOR SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL OR INCIDENTAL DAMAGE RESULTING FROM OR ARISING OUT OF OR IN CONNECTION WITH THE USE OF THIS INFORMATION.

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